Trading statement - six months ended 30 June 2017

Despite strong improvements in container leasing market conditions, Trencor will be reporting losses for the six months ended 30 June 2017. International Financial Reporting Standards require Trencor to further impair the container fleets owned by Textainer and TAC. These non-cash impairments are as a result of future cash flows associated with the container fleets being discounted at a higher weighted average cost of capital, increased from when the containers were last tested for impairment at 31 December 2016. No such discounting is required in terms of US GAAP under which Textainer and TAC report.

Shareholders are advised that Trencor’s headline loss per share, adjusted headline loss per share and loss per share for the six months ended 30 June 2017 are expected to be within the ranges set out below: